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Posts Tagged ‘Condos For Sale’

Foreclosed Condos For Sale In Nj

Nine years ago my husband and I sold our 2 bedroom condo thinking that we were going to rent for a while until we were able to find a three bedroom home for our growing family (we had three young boys). We were unable to find a place to rent or buy in the county that we lived in. We moved almost an hour away to a small 2 bedroom apartment in the town that I grew up in. The housing market was just starting to take off and for the next 4 years we looked for a home that we could afford in three different counties in NJ and were unsuccessful.

Because we couldn’t find a house to buy that we wanted to live in, we decided that we would look into purchasing real estate for an investment. The problem was that rents had not rose at the same rate as selling prices of houses, so if you had to purchase an investment property and get financing, the rent that you collected would not be able to cover the mortgage payments. Still I thought that real estate investing was the fastest way to build wealth. So I thought that we should try buying foreclosed houses or pre-foreclosures.

The real estate market was booming at this time and investors were paying close to market price for foreclosures because the market was rising so fast. At the foreclosure sales that I went to, small distressed houses sold for over $300,000, and that was out of my price range.  Also at these sales you needed to have 20% of the bid price in certified funds on the day of the sale and the rest within 10 days. Since we found ourselves locked out of the real estate market, I wanted to do something with the little bit of money that we had left from the sale of our condominium to invest for our future. I had heard about tax lien investing, and I thought that was something that I might be able to do.

I started going to tax sales in NJ, the state that I lived in at the time. The problem was that I could not find any information about how to invest in tax liens in my state. At that time there was just one book in print about tax lien investing and it didn’t contain any specific information about my state. What information that I could find was very general. So I started going to tax sales and doing some research to find out more. I met someone else that was trying to do the same thing I was, only on a much larger scale, so we teamed up and helped each other.

We learned the tax lien investing business in NJ, and for a while I worked for my partner, building a sizable tax lien portfolio for him while I was building a smaller portfolio for myself. I hired a handful of people to help me and trained them on how to do due diligence for tax sale properties and bid at the sale. We even developed our own software to track our investments and automate a lot of the work.

Meanwhile I realized that there were a lot of people out there like me who wanted to learn about tax lien investing, but didn’t know where to turn. I started my web site, TaxLienLady.com, to answer questions about how to get started investing in tax liens. I researched tax lien and tax deed investing in every state and wrote a couple of e-books, which I sold through my web site. Then I started doing teleseminars, and interviewing experts in different states on aspects of tax lien and tax deed investing. I wrote step-by-step home study courses on tax lien and tax deed investing, and began doing live seminars for local investing groups.

Now I have multiple home study courses, web sites, and blogs for tax lien and tax deed investing. I have a tax lien investing podcast on iTunes, Videos on YouTube, and articles on tax lien and tax deed investing that appear all over the internet. My goal through all these mediums is to give you the truth about tax lien investing, without the hype, and to help you build your own profitable portfolio of tax liens or tax deeds. If you’d like to find out more about how you can get started investing in real estate secured tax lien certificates, or buying properties for pennies on the dollar with tax deeds, you can get my free report “7 Steps to Building Your Profitable Tax Lien Portfolio” at www.TaxLienInvestingBasics.com.

About the Author:

Joanne Musa works with investors who want to reap the rewards of investing in profitable tax lien certificates and tax deeds. Her tax lien investing articles appear all over the Internet. Her no-nonsence, straightforward approach to tax lien investing has earned her the title of the "Tax Lien Lady." As the owner of Tax Lien Consulting LLC, she has developed a full line of educational courses for investing in tax lien certificates and tax deeds. You can get her free special report, 7 Steps to Building Your Profitable Tax Lien Portfolio at TaxLienInvestingBasics.com

Source - Tax Lien Investing: How I Got Started

Bank Owned House For Sale in Jersey City New Jersey

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Foreclosed Condos For Sale In Miami

A short sale in real estate refers to a concept whereby a lender (mortgagee) agrees to discount the amount of money owed on the loan made to a borrower (mortgagor), due to hardship on the part of the borrower. It basically allows the homeowner (mortgagor) who owes money to the lender (mortgagee), to sell the home or condo for less than the amount owed to the lender.

The benefit to the mortgagee is that the lender gets to cut losses, which would be much greater if the lender is forced to foreclose on the property. The advantage to the homeowner (mortgagor) is that he/she gets to sell the property for less than he/she owes, avoids foreclosure, and the balance of the debt is forgiven. The advantage to the buyer is that he/she gets to buy the property on the cheap, so to speak. It seems like a win, win, win situation for everyone.

Ah, but we have often heard that all that glitters is not gold, so what is the problem? The problem is that the entire ordeal can be very frustrating, and often enough, an effort in futility. Why? The easiest part is making the deal between the buyer and the seller. The seller is eager to sell, thereby avoiding foreclosure, and the buyer is eager to buy the the home or condo at a great price.

They may come to an agreement as to price and terms, and execute a legally binding contract, but then the problems begin, because the deal must be presented to the lender, and the lender must agree to the price before a sale is made. The mortgagee's required agreement to the sale is listed on the contract as a contingency. Without the fulfillment of the contingency, there is no sale.

Long delays by the lender in responding to the contract for sale can be very frustrating for buyers and sellers. Buyers often walk away in frustration or even anger. Then there is the question of price. Banks and other lenders like to make money, but they can’t stomach losing it, so they often wont just agree to the price on the contract. Again a frustrated buyer may walk away, and the process has to begin anew. That is the long and short of a short sale. For more information go to the Miami Real Estate site, or the Miami Beach Real Estate blog.

About the Author:

Alex Shay is a prominent Miami Beach real estate broker, whose award winning website Miami Florida Real Estate features some of the most beautiful residential real estate in all of the world.

Source - Real Estate 101 - What is a Short Sale?

Trump SoHo Virtual Tour

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Foreclosed Condos For Sale In Florida

Perhaps you battle the winters on the windy streets of Chicago and are looking for a second home that lets you escape from the cold and snowy conditions. If you have been dreaming of owning a home in Florida, there is no better time than now to look into the opportunities that exist in the Cape Coral/Fort Myers area.

Even if you've been living in a cave, you know that the economic conditions of the real estate industry have been nothing short of devastating. For the Cape Coral area, it has been some of the most difficult conditions for homeowners and renters alike, who have found it impossible to avoid foreclosure. Although this may sound tragic, it is a buyer's market for anyone who is looking to purchase now.

Imagine being able to name your price for a fantastic property in this breathtaking location and having your offer accepted immediately. If you can picture it in your mind's eye, take a look at Cape Coral and take your idea from concept to reality with real estate prices that haven't been this low since the 90's.

Whether you're looking for a getaway from the blizzard conditions that plague the northern states every winter or you want to make an investment in real estate on the southern coast to expand your investment portfolio, Cape Coral is the way to go. Never before has there been an economic scenario quite as advantageous as the one that currently exists in this area.

Tropical winds, sandy beaches and some of the best southern Florida coastal weather is a part of the Cape Coral scenario that homeowners enjoy all year round. Fishing, boating and close proximity to Miami, Tampa, Orlando and Fort Lauderdale make Cape Coral the perfect location to buy a home at a price that's sure to make your budget quite happy.

With market conditions as they currently exist, a 2,000 square foot, 3-bedroom, 2-bathroom pool house in Cape Coral is in the ballpark of $140,000 as a listing price. The same home would be marketed at more than $400,000 in Naples! Prices have been slashed in the wake of a recession that has nearly crippled the real estate market in many beautiful areas such as Cape Coral.

These conditions are no reflection on the quality of homes and the potential of Cape Coral, which was founded in 1960. Families, entrepreneurs and other business capitalists alike are taking a closer look at this city that ranks the third safest in Florida, is easy to get around and has a wealth of large growth potential.

Although Cape Coral has been leading the nation in foreclosed properties, there is a definite upside to being in a real estate downturn. More than 14,000 properties have recently been listed in Cape Coral, making it a buyer's choice Mecca of options designed to suit virtually any budget, any taste and any interest in purchasing real estate in this location.

If you have ever thought about living off the coast of Florida, whether part time or as a permanent move to this sunny state, there has never been as opportune a time as now to get in on the low prices being made available for houses and condos in the Cape Coral area. There's no better way to get your feet wet than to take a look at some of the listings currently on the market.

The real estate market in Cape Coral has dealt some harsh blows to many who have been negatively impacted by the recession yet, it's the perfect time to make your dreams come true with a strategic move to this corner of paradise.

About the Author:

Take advantage of the lowest prices in years on Cape Coral homes for sale and your dream home will become a reality. Dont let this opportunity slip by. Cape Coral, Florida is a paradise unlike any other.

Source - Paradise is Affordable in Cape Coral, Florida

FORECLOSURE REAL ESTATE FOR SALE IN FLORIDA

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